7 of 13 Intestate Properties Sell at
Supreme Court on Adams Street
By Linda Collins
Brooklyn Daily Eagle
DOWNTOWN BROOKLYN — More than $3 million was taken in for seven properties at an auction in Downtown Brooklyn late last month, according to the Public Administrator of Kings County.
The auction, which took place on Dec. 16 at Brooklyn Supreme Court, 360 Adams St., Room 274, was sponsored by the Public Administrator on behalf of the Surrogates Court and included 13 properties offered in an “as is” physical condition.
The properties formerly belonged to those who died without a will or without family members who are able to administer their estate.
There is a Public Administrator in every county in the city whose primary duty is to administer estates that would otherwise remain unadministered.
Potential bidders, who were permitted to view the properties during an open house held on the two weekends prior to the auction, were required to bring to the auction a certified check of 10 percent of the opening bid plus a blank check to be used to pay the balance of the required deposit of 10 percent of the actual purchase price.
Bruce L. Stein, deputy public administrator, reported that four of the seven properties brought their minimum asking price (or opening bid) in the auction and three of them brought well over their minimum asking price.
The following are the sold properties and their sale prices with the minimum opening bids included in parentheses:
• 521 41st St., Unit B4, a co-op — $125,000 ($125,000)
• 844 54th St. — $1.275 million ($950,000)
• 133 Cornelia St. — $270,000 ($140,000)
• 82 Cambridge Place — $600,000 ($500,000)
• 338 E. 53rd St. — $350,000 ($350,000)
• 932 Albany Ave. — $210,000 ($210,000)
• 101 Lafayette Ave., Unit 8M, a co-op — $215,000 ($215,000).
Those properties that did not sell at the auction either failed to achieve the minimum opening bid or were withdrawn for some reason.
For additional information about the Public Administrator’s office, please visit www.nyc.gov/html/kcpa.
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© Brooklyn Daily Eagle 2008
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